The current corporate situation is very harsh due to which the financial sector has got a huge blow but do the implementations of rebuking the liturgical condition of the financial sector specialist related to the loans and advances. It can be seen from the app that last year as of for the Employees Provident Fund Organisation the contribution nearly about 1000 crore alto which 800 crores already been used as it was withdrawn from the Nagpur office by the in the time of the prices of covid-19 when no other sources were available.
According to the new rules, the capping of the contribution at about 15000 rupees which is mainly done for the average income of the corporate sector, has several cases of withdrawal from EPFO. On another side of the coin, loan against gold have become a boon during this time of covid-19. It has been washed that the fixed deposits and the savings accounts balance are decreasing at a significantly faster rate during this time of covid-19 for the requirement of the necessities and covid treatment.
It has been noticed that most closed businesses last year due to the covid-19 lockdown related harassments arranging and approaching the gold loans from the banks and NBFC from the previous one month to 2 month. This was for the as well as for the requirement of the treatment of the car with patients as well.
The gold loan interest rate is seen as a ray of hope, but the mutual fund industry also got some of the good and some of the bad fluctuations during this time. The mutual fund industry has added about 75 lakh portfolios in the last year.
Uncertainties of the covid-19 that what will be happening in the next the existing customers have diversified their most of the portfolios to be on the safe side of any situation that can come across in the future time. Gold loans are on the basis of the gold loan per gram standard is also behaving as a boon for the low-interest rates in the covid time for its loan.